Graham Refrains From Providing FY21 Outlook Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, Graham Corp. (GHM) said it is not providing financial guidance for fiscal 2021 at this time, due to the significant economic impact of the COVID-19 pandemic on the energy and petrochemical/chemical markets and the lack of visibility as to the duration or the ultimate impact of the pandemic.

The company said as manufacturing production was impeded in the first quarter of fiscal 2021, it expects that revenue, earnings and cash generation will likewise be challenged.

It plans to return to more normal production levels in June and begin working through its backlog, which will help the results from operations for the remaining quarters of fiscal 2021.